Enjoy the football, but don’t expect City forecasters to pick a winner

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There are few things in life more wretched than listening to middle-aged
economists insisting they love sport. But this is World Cup season, so get
used to it.

It all started last month with Mark Carney and perhaps the most tortuous
analogy in the Bank of England’s 320-year history: Britain’s economic growth
prospects, he said, were akin to those of the England team in the group
stages of the competition. Instead of Italy as an opponent, he said, UK plc
has to contend with “weak demand abroad and persistent strength of the
currency”; Uruguay stood for “risk in the housing